Ahold's 2001 Net Earnings Reach Euro 1.11 Billion

ZAANDAM, The Netherlands - Ahold, the international food retail and foodservice company, has reported it achieved net earnings of Euro 1.11 billion for full-year 2001 (52 weeks) after goodwill amortization and exceptional charges including the impact of the devaluation of the Argentine Peso. The aggregate impact in Euros was 411 million.

Before goodwill amortization and exceptional charges, net earnings for 2001 amounted to Euro 1.5 billion, a rise of 36.2 percent vs. 2000.

"Our five largest operating units - U.S. Foodservice, Stop & Shop, Albert Heijn, Giant-Landover and ICA Sweden - all had major increases in sales and operating earnings, and improved their market positions this year," said Ahold president & CEO Cees van der Hoeven. "If we look at our total worldwide business, we see excellent further growth potential in the United States and Europe. In Latin America we continue to see long-term operational growth prospects. We are well positioned, have a strong focus on creating value for all our stakeholders and have again forecasted 15 percent earnings per share growth for 2002."

Ahold's U.S. retail sales rose 10.8 percent to $23.2 billion. Sales were higher at all retail operating companies, especially at Stop & Shop and Giant-Landover. Organic U.S. retail sales increased by 6.2 percent, comparable U.S. retail sales grew by 3.1 percent, and identical retail sales rose 2.6 percent.
This ad will auto-close in 10 seconds